918,995 Shares in Enbridge Inc. (NYSE:ENB) Purchased by BLI Banque de Luxembourg Investments

BLI Banque de Luxembourg Investments bought a new stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 918,995 shares of the pipeline company's stock, valued at approximately $38,978,000.

Several other institutional investors have also added to or reduced their stakes in ENB. Norges Bank purchased a new stake in shares of Enbridge in the 4th quarter worth $909,415,000. Arrowstreet Capital Limited Partnership increased its position in Enbridge by 396.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after purchasing an additional 9,621,425 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Enbridge in the 4th quarter valued at about $180,941,000. Vanguard Group Inc. lifted its position in shares of Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Enbridge by 30.5% during the fourth quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company's stock valued at $571,389,000 after purchasing an additional 3,091,442 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. CIBC reissued an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Raymond James raised Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Finally, Citigroup assumed coverage on shares of Enbridge in a research note on Friday, April 4th. They set a "buy" rating for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Enbridge has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Trading Up 0.8 %

Shares of NYSE:ENB opened at $46.86 on Friday. The business's 50-day moving average is $43.82 and its 200 day moving average is $43.15. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $47.08. The firm has a market capitalization of $102.16 billion, a P/E ratio of 27.24, a P/E/G ratio of 3.92 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the firm earned $0.64 EPS. On average, research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued a $0.679 dividend. The ex-dividend date is Thursday, May 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.80%. Enbridge's dividend payout ratio is currently 157.56%.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.

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